Discussion in 'Trading' started by lojze, Jul 17, 2002.
Who really understands, why INTC and the whole market after bad INTC earnings went up so much?
Because we are in an uptrend (higher highs and higher lows).
pretty simple really
big players pay more attention to the REACTION to the news, than the actual news itself
so when the INTC news came out and nothing much happened, shorts knew the tame reaction was an ominous sign and they would have to make a break for it- especially after a streak of down days that's in the record books for longevity
bulls know how shorts think too being the same group of players mostly, so they probably got together to press their advantage, knowing the shorts would break ranks
sometimes the market is a lot like those high noon gunfights in old westerns, two guys squinting at each other waiting for a draw
7/11 COMP-Low 1324.06
7/15 COMP-Low 1344.96
=> higher lows
7/12 COMP-High 1394.99
7/16 COMP-High 1405.49
=> higher highs
Yes, I admit, it is a very short uptrend ...
like first hour sales on Jacko's last album
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